Online banking

Midwest BankCentre in St. Louis, with the help of a stable of fintechs, started Rising Bank to keep up with big banks in the hunt for deposits and millennial customers.

The bank says it has restored access, but it hasn’t explained how a fire-suppression system at one facility could cause a nationwide outage across all of its channels, or how its system as a whole could have been left so vulnerable to the incident.

The company’s investment in a small business lender is said to be the biggest ever in Europe; the merger may raise questions from regulators, spur more mergers.

Customers reported being unable to access online banking, mobile banking or their debit cards.

Chime, a financial technology startup that offers online banking services, is close to raising $300 million at a $1.5 billion valuation, according to two people familiar with the matter.

Gatsby, which has built an app to let novice investors buy puts or calls, has received funding from Barclays, Radius Bank and others. Radius is considering offering the service to its customers.

Small businesses short on cash can use advances from Fundbox to buy products from online suppliers.

Timothy Mayopoulos is back in the mortgage industry, becoming the new president of the digital mortgage technology developer Blend, months after leaving his post as Fannie Mae’s CEO.

The online student lender said it is reallocating some jobs and "sunsetting" others.

PNC chief Bill Demchak says he's pretty sure the U.S. isn’t heading into recession, but asset quality is so strong that the regional bank is giving itself a wide berth in forecasting its loan-loss provision in case of the unexpected.